Book Image

Efficient Accounting with Xero

By : Jay Kimelman
Book Image

Efficient Accounting with Xero

By: Jay Kimelman

Overview of this book

Xero empowers business owners to gain insights into their business and performance and collaborate seamlessly with their accountants and tax professionals. This book goes beyond the basics and explores the more advanced Xero features, techniques, and best practices for managing sales taxes, budgeting, and reporting. You’ll begin by diving right into Xero, setting up a bank feed, and exploring its power while experiencing just how easy it is to use. The book will guide you in setting up Xero the right way to ensure that you succeed in each of your transactions. As you progress through the chapters, you’ll learn what spend money and receive money transactions are and be able to easily send invoices and collect receivables or payments, collect and pay bills, and even track your business assets with Xero. Toward the end, you’ll be proficient at producing powerful reports, giving you the keys to running or advising any business. By the end of this Xero book, you’ll have gained the confidence to add a company to Xero, set up the bank feeds, reconcile the transactions, send invoices, and pay bills, ending up with beautiful financial statements.
Table of Contents (27 chapters)
1
Part 1: Hitting the Ground Running
7
Part 2: Handling the Day-to-Day Processes
12
Part 3: Closing Out the Accounting Period
16
Part 4: Reporting – Knowing About the Performance of Your Business (KPIs)
18
Chapter 14: Business Analytics with Business Snapshot and Short-Term Cash Flow
20
Part 5: For the Advisor

Staff in Xero HQ

Xero HQ is the place for managing your accounting firm or business staff. This is where you can invite people to join your Xero practice and manage the clients they can access.

To work on Staff in Xero HQ, follow these steps:

  1. From the Xero HQ screen, click on Staff and go directly to the Xero HQ Staff page:
Figure 16.35: Staff main screen

Figure 16.35: Staff main screen

  1. Here, you can invite Xero support or export a staff list by clicking on the three-dot menu at the upper right. You can invite a new staff member to your practice by clicking the Invite staff button. This will bring up the Invite staff to Xero HQ dialog:
Figure 16.36: Invite staff dialog box 1

Figure 16.36: Invite staff dialog box 1

  1. Enter the name and email address of the new staff member and then click Next:
Figure 16.37: Invite staff dialog box 2

Figure 16.37: Invite staff dialog box 2

  1. Choose the appropriate role for this new staff member and click Invite to Xero HQ:
...